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Naira Exchange Rate

Nigeria Naira exchange rate tracker. Naira to Dollar Parallel market Tracker. Naira To Dollar CBN rate tracker.

Market Watch

Roster of Banks Omitted from the CBN Retail Dutch Auction

musteey -
Six big banks in Nigeria, including United Bank for Africa (UBA), Wema Bank, and Stanbic IBTC, couldn't join a recent money auction by the Central Bank of Nigeria (CBN). This auction had the CBN...
Market Watch

Top 10 Banks with the Highest FX Allocations from CBN’s Latest Retail Dutch Auction

musteey -
The Central Bank of Nigeria (CBN) recently ran a Retail Dutch Auction System (rDAS) on August 6, 2024. They did this to help control the high demand for foreign currency and to understand its true value. ...
Market Watch

Naira Gains Momentum, Encounters Challenge at N1,500 Resistance Level

musteey -
The Naira got stronger against the dollar on Friday. It traded at N1,585/$, which is better than Thursday's N1,590/$ in the street market. In the Nigerian Authorized Foreign Exchange Market (NAFEM), the Naira also...
Market Watch

Remittance Inflows Soar by 130%, Reaching $553 Million in July 2024 – CBN

musteey -
The Central Bank of Nigeria (CBN) has shared some happy news. In July 2024, they got a lot more money sent into Nigeria from other countries, reaching $553 million. This is a big 130% jump compared to July 2023. This...
Market Watch

BDC Operators Say Inconsistent Dollar Supply from CBN Hampers Naira Recovery

musteey -
People who trade money say the naira is getting weaker and the exchange market is always changing because the Central Bank of Nigeria (CBN) doesn't always give Bureau De Change (BDC) operators dollars regularly.BDC operators admit that when the...
Market Watch

Dangote Group Acquires $105.33 Million in Latest CBN Retail Dutch Auction

musteey -
The Dangote Group, which owns many businesses, got a big chunk of money in the latest Central Bank of Nigeria (CBN) auction. They managed to buy $105.33 million in foreign exchange (FX) bids. This makes up about 13% of...
Market Watch

URGENT: FG Launches $500 Million Five-Year Domestic Dollar Bond at 9.75%

musteey -
Nigeria’s $500 Million Domestic Dollar Bond The Nigerian government is offering a $500 million dollar bond...
Market Watch

Naira Faces Hardships at N1,600 Floor Despite Dollar Index Hitting Lowest Since January

musteey -
In the past week, the Naira had trouble keeping at N1,600 in the official foreign exchange (FX) market, even though the US Dollar index was at its lowest level since January. According to FMDQ...
Market Watch

FX Turnover Declines by 21% in Early August Amid CBN’s Retail Dutch Auction

musteey -
The Nigerian foreign exchange (FX) market saw less activity in early August 2024. This happened at the same time as the Central Bank of Nigeria (CBN) held a Retail Dutch Auction. ...
Market Watch

Naira Depreciation Leads to N2.74 Trillion Increase in Government Revenue Over Six Months

musteey -
In the first half of 2024, Nigeria's federal, state, and local governments made around N2.74 trillion from exchange rate gains.This information comes from reports by the Federation Account Allocation Committee (FAAC), shared by the National Bureau of Statistics (NBS).Gains...
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Nigeria's population could rise to 450 million by 2050: experts

Experts have expressed concern about the possible increase in Nigeria's population, which could reach 450 million by 2050 if...
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